melonfool wrote:I think actually you need more when you're younger to do things, when older you'll do fewer things so won't need as much.
There are a couple of reasons why you might even need more money when you're older.
Firstly, the obvious one, you may need care and/or have medical and nursing expenses. That can fall back onto the state if you're broke but that's not as dignified as having choices by funding it yourself.
The second reason is, at least in my experience, I have actually been spending more since I retired. There is more time and opportunity to spend money when you're not occupied for 2,000 hours a year at work. You save on clothes, commuting and bought lunches. But there are more long-haul holidays and money-consuming hobbies.
Of course, the second ceases to be a problem if the first becomes one.